STI trades at 1.6 times tangible assets

30 April 2012
By Teh Hooi Ling
Senior Correspondent

Link:
http://forums.hardwarezone.com.sg/stocks-shares-indices-92/%5Bbt%5D-sti-trading-1-6-times-tangible-assets-3707884.html

MARKETS have been rather resilient this year despite expectations of a more risk-off stance by investors going into the second quarter.

For the week, the Dow Jones Industrial Average added 1.53 per cent to end at 13,228.31, and the S&P index gained 1.8 per cent to 1,403.36. Meanwhile, Nasdaq picked up 2.29 per cent.

In Singapore, the Straits Times Index (STI) slid 0.4 per cent last week. For the month of April, it was flat.

Last week, robust corporate results from technology giants Apple and Amazon helped distract investors from other possible sources of worry - a somewhat glum US growth report for the first quarter, Federal Reserve inaction despite hopes for more stimulus, new worries in Europe and concerns over Chinese growth.

Last Friday brought a lower-than-forecast estimate for first-quarter US growth of only 2.2 per cent, down from 3.0 per cent in the final quarter of 2011.

The STI is now trading at 1.6 times tangible assets. Since 2008, it has traded to a high of 2.47 times (in early 2008) and a low of 1.07 times (in March 2009). The median in the last four-plus years is 1.84 times.

The index's expected dividend yield for next year is 3.5 per cent, relative to a high of 6.9 per cent (end-October 2008) and a low of 3.1 per cent (early November 2010). The median is 3.5 per cent.

As for price-earnings ratio, the STI is trading at 9.8 times historical earnings, but 13.9 times this year's earnings. This is about the median range the STI has traded at since 2008.


Sources:
http://www.businesstimes.com.sg/premium/companies/bt-portfolio/sti-trades-16-times-tangible-assets
http://www.businesstimes.com.sg/sites/businesstimes.com.sg/files/BT_20120430_HLPORT30_C1_1279623.pdf
http://www.businesstimes.com.sg/sites/businesstimes.com.sg/files/BT_20120430_HLPORT30_C2_1279624.pdf
http://www.businesstimes.com.sg/sites/businesstimes.com.sg/files/BT_20120430_HLPORT30_C3NEW_1279665.pdf
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http://www.businesstimes.com.sg/sites/businesstimes.com.sg/files/BT_20120430_HLPORT30_1D_1279629.pdf
http://www.businesstimes.com.sg/sites/businesstimes.com.sg/files/BT_20120430_HLPORT30_2A_1279654.pdf
http://www.businesstimes.com.sg/sites/businesstimes.com.sg/files/BT_20120430_HLPORT30_2B_1279655.pdf
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http://www.businesstimes.com.sg/sites/businesstimes.com.sg/files/BT_20120430_HLPORT30_2D_1279656.pdf